News
Public · Published
Liquid Hack Leaves Bull Bitcoin Users Facing 30-Day Wait to Reclaim BTC
Bull Bitcoin said customers currently cannot convert their L-BTC back to BTC. This follows a Sept. 6 hack that siphoned 4,000 BTC from the Liquid Network, though most of it was later returned.
Published:
Updated:
What happened
Bull Bitcoin said customers currently cannot convert their L-BTC back to BTC. This follows a Sept. 6 hack that siphoned 4,000 BTC from the Liquid Network, though most of it was later returned.
Confirmed
Global impact / market context
Customers who hold L-BTC, a token representing bitcoin on the Liquid sidechain, cannot move it back to regular BTC through Bull Bitcoin. That locks up access for up to 30 days and may push traders to other exchanges or wallets.
Analyst inference
A hack that drains 4,000 BTC from a bitcoin-linked network can weaken confidence in sidechains, which are secondary chains designed to speed up or add features to bitcoin. Users may move holdings to main-chain BTC or rival platforms.
Analyst inference
What to watch
- Bull Bitcoin users face a stated 30-day wait to reclaim BTC from L-BTC, so watch whether that timeline holds and whether the exchange restores conversions sooner. Confirmed
- A future step could be for Liquid Network operators to publish a full recovery plan for the 4,000 BTC, which would help users judge if L-BTC remains safe to hold. Proposed
- Watch whether other exchanges that support L-BTC limit conversions too, since similar restrictions would signal broader stress across bitcoin sidechain services and shift investor positioning. Analyst inference
Affected assets
- BTC — Bitcoin